US consumer watchdog eyeing Big Tech, lending competition as recovery unfolds – testimony

WASHINGTON : The head of the U.S. Consumer Financial Protection Bureau, Rohit Chopra, will tell lawmakers on Wednesday that agency is the mortgage market and aims to minimize foreclosures of American homeowners, according to his prepared testimony.

As he lays out an ambitious agenda before the House Financial Services panel, Chopra will monitor anticompetitive practices and ensure ‘greater competitive intensity’ in consumer lending.

The agency will also sharpen enforcement focus on firms that repeatedly violate consumer finance laws and better oversee big tech as it gains greater control over money flow raises.

(Reporting by Katanga Johnson and Pete Schroeder in Washington, D.C.)


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